BRETT struggles after breakout, but key factors point to a rally
The post BRETT struggles after breakout, but key factors point to a rally appeared on BitcoinEthereumNews.com.
BRETT’s price declined despite a bullish breakout. Almost half of global addresses holding Brett are making money. Brett [BRETT], a popular Base-based memecoin, has recently broken out of consolidation and successfully retested its support levels. However, as of press time, it was struggling to push higher, potentially due to slow weekend market activity. Despite this, there is optimism that the price action will resume its upward momentum, given its strong position and recent performance. Over the past seven days, BRETT has climbed 15%, and in the last 30 days, it has gained 31%, with top holders dominating the market. This suggests growing interest as the final quarter of the year unfolds. BRETT price prediction Brett’s recent price action, following its breakout from a wedge consolidation pattern, shows potential for further gains once weekend trading activity picks up. Since it is the main memecoin on Base, it is poised to benefit from a significant portion of liquidity from this ecosystem. Additionally, the weekly chart has shown a large wick, indicating strong buying pressure for BRETT, which could push the price higher once trading volume increases. Source: TradingView Profitability and volume Looking at the In/Out of the Money, 44.18% of traders holding the memecoin were in profit, with the most profitable addresses in the price range of $0.081407 to $0.089350. This equates to 302,000 addresses that are in the money, while 50% of traders are out of the money, representing 342,000 addresses. About 6%, or 38,000 addresses, are currently trading at breakeven. With a total supply of 9.91 billion tokens and a maximum supply of 10 billion, BRETT’s tokenomics remain attractive for investors looking for long-term growth. As the largest memecoin on Base, Brett enjoys significant market participation. Source: IntoTheBlock Brett’s market activity continues to gather momentum, with the market cap reaching…
Filed under: News - @ October 20, 2024 10:08 am